PS25/14: Definition of capital for FCA investment firms

The Financial Conduct Authority issued Policy Statement PS25/14 to finalize the definition of capital for firms regulated under the Investment Firms Prudential Regime. This document establishes the final rules and guidance regarding capital requirements following a consultation period that ran from April 2024 to June 2025. The policy statement, published on October 15, 2025, sets out the regulatory expectations for investment firms to ensure compliance with the new capital framework.

United Kingdom

Financial Conduct Authority

Consultation opened

24/04/2024

Consultation closed

12/06/2025

Policy Statement

15/10/2025